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360networks Acquires
Co-Location Facilities

a Wall Street Journal Staff Reporter

Updated May 16, 2000 12:01 a.m. ET

VANCOUVER, British Columbia -- 360networks Inc., a fiber-optic communications network concern, acquired co-location facilities in Los Angeles, Atlanta and Dallas from Telecom Real Estate Services for $144 million in a bid to make its global network more accessible to customers.

The facilities will allow 360networks to house servers belonging to Internet service providers, application service providers, telecommunications companies and other data-communications customers that use its networks. The customers' local networks will...